Join us for part or all of the day. Click here for full details about the conference and to register today.

Share this article:

PRODUCT SHOWCASE

Don't Miss Our Most Popular Annual EventJoin us in Denver, July 24-26, for The 2013 Planning for the Generations Symposium. This unique event is your source for quality education, interdisciplinary networking, and the secrets to growing your practice through the “Continuum of Care” approach. It’s a must-attend for estate planning professionals!

MEMBER NEWS

Dan Ruttenberg argues case before the US Supreme CourtAAA-CPADan Ruttenberg, Esq., CPA, of Fairfax, Va., argued a case before the U.S. Supreme Court in April. The case, Hillman v. Maretta, relates to insurance beneficiaries in the event of divorce if the insured does not change designations.

Share this article:

MEMBER ARTICLES

Federal tax update — MayBy David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong Driscoll PCIn Shenk v. Commissioner, the tax court held that a release of the dependency allowance by the parent with primary custody executed after the Internal Revenue Service could no longer adjust her return was invalid to give the dependency exemption to the noncustodial parent.

Death tax repeal in 2017?ForbesThought the estate tax debate was dead and buried? Not a chance. The big January tax law might have made the federal estate tax permanent, but President Barack Obama wants to make it tougher, and the man who dubbed it the "death tax" is back battling to get rid of it.

10 US cities with the lowest taxesMarketWatch The Office of Revenue Analysis reviewed the estimated property, sales, auto and income taxes a family paid in 2011 in the largest city in each state. One of the biggest factors in how much a family can expect to pay is the state and local tax rates affecting their city. Personal income tax is one of the key factors. Seven states have no income tax, and six of the 10 cities with the lowest tax burdens are in these states.

5th Annual Tax Controversy Forum — Co-sponsored by the AAA-CPANew York University School of Continuing and Professional StudiesThe New York University School of Continuing and Professional Studies is pleased to present the 5th Annual Tax Controversy Forum. The forum
brings together representatives from the government and expert private practitioners to compare perspectives on a wide range of topics involving federal tax audits, appeals and litigation.

Ireland writes to US senators to reject tax claimsReuters Ireland has formally rejected claims by U.S. Sens. Carl Levin and John McCain that Ireland is a tax haven and that it handed Apple a special tax deal.
Ireland's ambassador to the United States Michael Collins has written a letter to the two senators emphasising that Ireland's tax system is transparent, according to the text released by the finance ministry which echoed points made by Irish ministers and officials.

Blocked treaties a concern ahead of tax evasion lawReutersA lone Republican lawmaker in Kentucky is blocking Senate votes on several tax treaties is a concern, but won't stop a new antitax evasion law from taking effect in 2014, a Department of Treasury official said.
Sen. Rand Paul's hold on the treaties "is a concern" isolated to "a few agreements" with foreign governments, said Jesse Eggert, associate international tax counsel at the Department of Treasury, at a conference.

State tax take grows most since 2007 US recessionBloomberg State income-tax collections in the first quarter were the strongest since the start of the recession in 2007, according to a report by the Nelson A. Rockefeller Institute of Government.
Personal income-tax collections grew 17.6 percent in the first quarter compared with the same period a year earlier, the report released said, citing data from 47 states. The 9.3 percent increase in all revenue was also buoyed by a growing economy and higher income levies that California voters approved in November.

IRS official: White House wasn't involved in reviewBloomberg An Internal Revenue Service supervisor in Cincinnati has told lawmakers that the White House wasn't involved in the agency's scrutiny of small government groups, said Rep. Elijah Cummings, D-Md.
Cummings, the top Democrat on a panel probing the IRS over its tougher review of Tea Party groups' tax-exempt status, said on CNN's "State of the Union" program that it's time to "wrap up this case and move on" by ending congressional investigations.

CPA executives see economy more favorablyAccounting Today Optimism about the U.S. economy among business executives who are also certified public accountants improved in the second quarter and has reached its highest point since early 2007, according to a new survey by the American Institute of CPAs, but lingering concerns continue to curtail hiring plans. The AICPA Economic Outlook Survey polled CEOs, chief financial officers, controllers and other CPAs at U.S. companies who hold executive and senior management accounting roles.

Analysis: Scrap corporate tax and benefit long termReutersAs politicians consider moves to clamp down on corporate tax avoidance, some conservative economic thinkers say the damage done by avoidance is overstated and any remedies are more likely to do economic harm than good.
Revelations that companies including Apple Inc., Google Inc. and Amazon.com Inc. have shielded billions of dollars in profits from taxes by using tax havens have ignited a public debate on the issue.